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 Replies: 30 / Views: 3,320 |
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Pillar of the Community
United States
1189 Posts |
I made a post about gold coins in the past but never got one. I really think I'd like to save up and finally move forward with buying one. My first criteria is that it's MS certified by PCGS or NGC (no details grades!). It also has to be a historic piece (30's or older). I'm trying to decide if I should go for a $10 or $20 piece. My budget ranges from about $500-$1500 so I want to get a good one. I'm leaning toward a $20 piece because it's a more solid piece of metal. After all in the silver world I'd rather have one peace or Morgan over 2 halves. With gold being melted down in the past I know mintages aren't accurate. What are some good value years of gold coins that may be under-rated? What should I look for in the coins I buy to ensure I'm getting a quality piece (after all they say to buy the coin not the grade)? What types of issues should I be on the lookout for with these types of coins? Do some years have better strikes than others (something like the 1921 Peace dollar)? So many questions to address before I make a purchase! Any advice or suggestions would be great! I don't have a LCS so ebay is probably my only option. Thanks!! |
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Pillar of the Community
 United States
1189 Posts |
Oh and one more question.. Is now a good time to buy? Thanks!
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Pillar of the Community
Sweden
1078 Posts |
I'd go with a $20 in that situation. The bigger the better right?  As for whether it's a good idea to buy gold now, there's been lots of talk about an imminent global recession, and PM prices have been rising the last couple of days. Buying sooner the better. Don't take my word for it though, this is just a wild speculation on my part. |
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Rest in Peace
United States
7075 Posts |
After taking a quick look on Numismedia, I see that there are several MS $20 gold coins that will fit your price range and they seem to be from the late 1800's. So you shouldn't have a problem. My only advice is to choose eye-appeal over grade. But that's my personal preference and I own exactly two pieces of gold. I've been reading about gold coins but I'm afraid of fakes. I just don't get to see enough gold coins to really study them and the slabs get faked, too.  |
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Rest in Peace
United States
17900 Posts |
Be sure to avoid copper spots or streaks. Some gold coins exhibit these spots either because of improperly mixed metal or migration after minting. Gold usually doesn't tone while copper certainly does. Most advanced collectors avoid copper spots or streaks, even with PCGS and NGC straight grades.
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Pillar of the Community
United States
1189 Posts |
Is this an example of the streaks you mentioned? http://www.ebay.com/itm/1924-Saint-...AOSwT~9WjQ1qSeems low for a ms64 but has a line on the observe.. Buddy that's a great point and one of the reasons I've never bought before. I probably should do research into the slabs and make sure to run the registration number to verity. I'm still on the fence about even getting one but I'm trying to get educated now in case I find something I like. |
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Bedrock of the Community
Australia
21788 Posts |
If you want to get some gold, and like the big stuff,
get a St. Gaudens in MS62 or better.
Just go to a reputable dealer to buy it, because American gold coins of all dates have been faked.
Most would agree that it is the most beautiful of all gold coin designs, since the beginning of numismatic history.
The question of bullion value as part of the overall value is important. World commodity prices generally (including gold), are depressed just now, and could continue for some time. Nevertheless, they will rise eventually. Low current prices should be of little concern, if your reason is to keep for many years, or for much longer.
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Pillar of the Community
United States
4337 Posts |
IMO 20th century gold is not the way to go.
you could nab a wonderful MS specimen of 19th century in the upper end of your price range if you look at $2.5 and $5 Liberty Heads.
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Pillar of the Community
United States
1189 Posts |
Interesting.. What do you recommend in the $2.50 and $5 coins?
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Bedrock of the Community
United States
10982 Posts |
Common date $5 Liberty Head gold has low premiums over melt and great recognition. Even better date $5 Libs can be found for low premiums to melt. They are a nice alternative to larger pieces or modern gold bullion. $2.50 pieces carry too large a premium if your goal is buying gold rather than numismatic coins.
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Pillar of the Community
United States
591 Posts |
While I'm certainly not an "advanced" collector, I do not believe there is a consensus among such collectors regarding copper spots: [from https://www.NGCcoin.com/news/viewar...rticleID=572] " Understanding how copper spots form helps the knowledgeable collector appreciate that such spotting is a natural consequence of the coin-making process and not something to be alarmed about. Indeed, veteran numismatists appreciate the "originality" that such features impart to an old coin. Copper spots and streaks imply that a coin still has its "original skin," a term that is used widely within the coin business to describe pieces that have not been improperly cleaned and are thus natural in appearance. Typically, gold coins having original skin will show a fine layer of gentle haze in addition to whatever spotting is present. It may be that originality is an acquired taste that does not come quickly to the novice, but it is something that every buyer of gold coins should strive to understand and appreciate." |
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Bedrock of the Community
United States
12057 Posts |
I am a big fan of the Liberty $5 half-eagles. The coin is big enough that you can see and appreciate it (unlike $2.5/$1) yet still affordable for relatively little premium above spot, excepting a handful of date/MM combinations. The $10 Eagles are also nice coins, a bit more expensive.
The nice thing about the $5 and $10 is you can buy a nicer coin for your money than when you get into Double Eagles. For the price of a plain jane Saint in lower MS you could pick up a nice MS64+ $10, maybe even with CAC approval.
I'm not rich enough to collect classic gold on any level (I have a $5 Liberty 1885-S, an 1874 Cal fractional octagonal 50c, and a proof 2008 $5 Buffalo for my entire gold ownership) but it seems to me that it's always been a great place to park your money. I still lust after the thought of owning a Charlotte or Dahlonega coin someday while I'm still young enough to appreciate it.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
4337 Posts |
Quote:
Interesting.. What do you recommend in the $2.50 and $5 coins? I like this response from Paralyse Quote:
I am a big fan of the Liberty $5 half-eagles. The coin is big enough that you can see and appreciate it (unlike $2.5/$1) yet still affordable for relatively little premium above spot, excepting a handful of date/MM combinations. Go to the major dealers online, browse their inventory and if you see something that really catches your eye, give a call and make an offer. Here's one for $550 in PCGS MS62 I just found online  I checked HA auction archives and this seems a very reasonable price. If you've got that first $500 and really want slabbed gold in MS that has eye appeal than this may be the one. |
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Pillar of the Community
United States
591 Posts |
not that I'm lookin', but you didn't post where this coin is for sale.
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Pillar of the Community
United States
2936 Posts |
I echo the $5 Liberty as a coin worthy of serious consideration. It's a beautiful coin in high AU and MS and leaves the door open for future additions, up to and including the Charlotte and Dahlonega Mints. PG
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Pillar of the Community
United States
6385 Posts |
I would pick a $20 coin in your situation, either a Liberty or St. Gaudens in PCGS or NGC plastic. Avoid the common dates (1904, 1908, 1924, 1927) since many dates with much lower mintage sell for about the same price. A nice MS-64 St. Gaudens should be obtainable at the upper end of your budget; make sure the head is well-struck if you go for this type. A Liberty piece in MS-63 is also possible in that price range. Either way, hold out for a coin with original brilliant luster and (as mentioned) avoid copper spots or other distracting stains or marks.
Good luck in your quest!
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Replies: 30 / Views: 3,320 |
Posted 02/06/2016 1:01 pm
